How to pay NFL franchise quarterbacks has become a bigger issue than dealing with the franchise tag.

Tony Romo represents a perfect example. Monday’s deadline for slapping the franchise tag on players has come and gone with the Cowboys using their tag on Anthony Spencer. Now they face a more serious offseason issue—how to manage Romo’s contract, while building a team around him capable of winning a Super Bowl.

How to pay franchise QBs is major issue for teams like the Cowboys, who face a risk/reward situation with Tony Romo. (AP Photo)

Jerry Jones should let Romo play the final year of his contract, just like the Ravens did with Joe Flacco. It’s a risk, but one worth taking. Romo’s contract expires after next season, and he counts a hefty $16.8 million against the cap in 2013. The Cowboys reportedly want to restructure his current deal by signing him to a long-term contract with a much more cap-friendly number, giving them added flexibility to sign other players.

Makes sense, except for this: Are the Cowboys absolutely certain they want Romo to be their quarterback the next four or five years, making huge money? Jones has been steadfast in his support of Romo. So have some Cowboys legends, like Troy Aikman.

I’m not nearly as sold on Romo and don’t see the urgency right now to ensure he never leaves the Cowboys. Teams like the Cardinals, Jets, and Vikings would walk to Dallas to sign Romo. But the last time we saw Romo, he was throwing three interceptions against the Redskins in a game Dallas needed to make the playoffs. Romo will be 33 years old before next season starts. He has one career playoff win.

While I can't put the blame solely on Romo for the Cowboys’ failures, this pattern of playing superb football during stretches, but making big mistakes in big moments, is nothing new. Jones says he wants to make people at Valley Ranch uncomfortable. That should include Romo. Make him prove he can deliver in the clutch next season the way Flacco delivered for the Ravens. If Romo fails miserably again, the Cowboys can think seriously about moving in another direction. Or sign him to a new deal when Romo has less leverage.

If Romo has his best season and leads the Cowboys deep into the playoffs, pay the man after next season and live with the consequences, just like the Ravens are doing with Flacco.

It would be a different story if the Cowboys were in danger of losing DeMarcus Ware, Jason Witten or Dez Bryant if they didn't restructure Romo’s deal. But the Cowboys can keep those key players if Romo’s deal goes untouched.

Romo has been a good quarterback for the Cowboys, but not a great one. Not when it counts the most. And considering how much top quarterbacks count against the salary cap, only the best deserve top dollar.

The salary cap is not expected to jump significantly in the next few years. More and more teams are being squeezed, trying to fit quarterback contracts into the salary cap pie. Look around the league. The Patriots needed Tom Brady to restructure his deal to create cap space. The Ravens needed to sign Flacco quickly because they still have important free agents in limbo and wanted Flacco under contract before plotting their next move. The Falcons will have to pony up big money soon to re-sign Matt Ryan, whose contract also expires after next season. Aaron Rodgers' deal expires after 2014. Get a fleet of armored trucks to bring his money.

Some people think Flacco is overpaid after signing a six-year contract worth $120.6 million, with $52 million guaranteed. Even if he is overpaid, Flacco earned his leverage. He played brilliantly in the playoffs. He was at his best when the Ravens needed it most. In five NFL seasons, Flacco has never missed the postseason.

Flacco proved he can lead a team to a Super Bowl victory. That’s the bottom line in his business, not who is the best quarterback in Weeks 1-17. Eli Manning is not most consistent regular season quarterback either. But in playoff games, Manning has proven he can play as well as anyone. Quarterbacks that wear Super Bowl rings have earned the right to be shown the money.

The key for the Cowboys this offseason is to have a solid draft and improve the offensive line protecting him. They have six picks, one in each of the first six rounds. If they get three or four rookie contributors, the Cowboys could make the playoffs. Once you get there, anything can happen.

A new deal for Romo would give the Cowboys more financial wiggle room. But before they give Romo more years and money, the Cowboys should make Romo wait. Then hope he responds like Flacco.